I sat in on a big conference call for my business unit this week about financial related things. We were told “we want to expand, but are going to wait and see what happens due to the high levels of uncertainty.”
The level of uncertainty right now is depressing the economy further, the uncertainty comes from a government that cannot pass a budget, not passing the budget leads to the fiscal cliff, ect., ect., ect.
Companies are also incorporating overseas even more due to our countries stupid high taxes and tax system. Companies are cutting their effective tax rate by 9% when they incorporate in Ireland versus the US. You are talking billions of dollars lost, but what is a few billion when we are talking debts in the trillions?
Take a good look at what is going on in Spain, Greece, and other countries because the show is going on tour and will be here very soon…